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Dodd-Frank one year on: implications for shadow banking

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  • Tobias Adrian

Abstract

One year after passage of the Dodd-Frank Act (DFA), regulators proposed several of the rules required for its implementation. In this paper, I discuss some aspects of proposed DFA rules in light of shadow banking. The topics are risk-retention rules for securitized products and the impact of capital reforms on asset-backed commercial paper (ABCP) conduits. While the reform of securitization is resulting primarily from DFA, changes in accounting standards, together with the Basel capital reforms, have had important impacts on the economics of ABCP conduits.

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  • Tobias Adrian, 2011. "Dodd-Frank one year on: implications for shadow banking," Staff Reports 533, Federal Reserve Bank of New York.
  • Handle: RePEc:fip:fednsr:533
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    References listed on IDEAS

    as
    1. Viral V. Acharya & S. Viswanathan, 2011. "Leverage, Moral Hazard, and Liquidity," Journal of Finance, American Finance Association, vol. 66(1), pages 99-138, February.
    2. John Geanakoplos, 2010. "Solving the Present Crisis and Managing the Leverage Cycle," Cowles Foundation Discussion Papers 1751, Cowles Foundation for Research in Economics, Yale University.
    3. John Geanakoplos, 2010. "Solving the present crisis and managing the leverage cycle," Economic Policy Review, Federal Reserve Bank of New York, issue Aug, pages 101-131.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Financial Regulatory Reform (Dodd-Frank Act) ; Asset-backed financing ; Commercial paper ; Assets (Accounting);

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